Rasheed Alkhanji QICMS
Published 01:27 PM 14 February 2022
Updated 02:52 PM 17 February 2022
BAHRAIN LAUNCHES 10-YEAR GOLDEN RESIDENCY VISA FOR INVESTORS
Bahrain on Monday February 7th, 2022 said it was introducing a new type of permanent residency visa to attract and retain residents, foreign investors and talented individuals.
Bahrain on Monday, February 7th, 2022 introduced a new permanent residency (10-year Golden Residency Visa) to boost investments and attract global talents part of a trend in the Gulf States to offer more flexible and longer-duration visas amid regional economic competition and as Bahrain works to fix its finances.
The Golden Residency Visa will be renewed indefinitely and will give the right to work in Bahrain unlimited entry and exit, and residency for close family members, a statement said.
The announcement comes amid a series of economic reforms and initiatives the Bahraini government has implemented, such as the Economic Recovery Plan, to enhance the kingdom's long-term competitiveness.
The new Golden Residency Visa will help foreign investors and long-term residents, and further contribute to the national economy, said Nationality, Passports and Residence Affairs Undersecretary Hisham bin Abdulrahman Al Khalifa.
The visa is aimed at attracting investors, entrepreneurs, and highly talented individuals who can contribute to Bahrain's ongoing success, Bahrain News Agency reported the Cabinet as saying.
Qualified applicants must have resided in Bahrain continuously for at least five years with a basic average salary of no fewer than 2,000 Bahraini Dinars (USD $5,300) per month throughout the five-year period.
Other criteria include: owning one or more properties in Bahrain valued no less than BHD 200,000, or an income of BHD 4,000 per month as a retiree, or being certified as highly-talented.
The applicants must be present in Bahrain for 90 days per year to ensure the validity of their visas.
The new Bahrain golden visa provides a path for foreign investors and their families to obtain a self-sponsored residence permit in Bahrain that is not tied to their employment.
The Bahrain Golden Visa by investment is a residency by investment program that allows foreign investors to make an investment in Bahrain and get a residence permit.
Quebec Investment Consultation & Management Services (QICMS) LLC is a multidisciplinary team of experienced and highly qualified professionals that assist worldwide clients. Contact our office today to discuss Residency by Investment opportunities of Golden Visa Programs.
Feel free to fill out our Free Assessment, and find out if you qualify under any of the business immigration programs offered.
(USD $1 = 0.3770 Bahraini dinars)